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This summary discusses the crucial interactions between U.S. Federal Reserve policies and emerging markets, particularly in the context of events from 2014, such as Ukraine's geopolitical shifts and market responses to tapering discussions. Highlights include the Fed's unexpected decisions, Russia's investment pledges, and the implications for emerging market currencies and bonds. Data from the International Monetary Fund and Bloomberg enrich the analysis, offering a comprehensive overview of market dynamics during critical moments.
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Emerging Markets and the Fed Benn Steil Council on Foreign Relations International Monetary Conference Dallas Federal Reserve April 4, 2014
Was Ukraine Tapered? November 29: Yanukovych doesn't sign EU Association Agreement September 18: Fed surprises markets by not tapering May 22: Taper talk begins December 17: Russia pledges to invest $15 billion in Ukrainian government bonds
Taper Talk and Emerging Market Currencies and Bonds May 22 Sept. 17 May 22 Sept. 17 May 22 Sept. 17 Data sources: International Monetary Fund and Bloomberg